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Historic Mixed-Use Ithaca Commons Asset

109 N Cayuga St, Ithaca, NY 14850

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For Sale

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Well-maintained, renovated mixed-use property in the heart of Ithaca Commons.

Type:Multifamily, Office, Retail

Property size:

9,012 SF

Price / SF:

$209/SF

HighLights

Prime location in the heart of the Ithaca Commons on the downtown Historic Super Block.
Diversified revenue streams from residential and commercial uses.
Fully renovated floors throughout the entire building.
Protected by a comprehensive sprinkler system.
Main floor occupied by a long‑standing (53 years) community institution.
Well‑maintained historic asset.

We can help!

Contact an agent

Richard Patterson

For Sale

Contact for pricing

Well-maintained, renovated mixed-use property in the heart of Ithaca Commons.

Type:Multifamily, Office, Retail

Property size:

9,012 SF

Price / SF:

$209/SF

Added:: Mar 17, 2026
Days on Market:: 104
Last Refresh:: Mar 20 at 12:03 am

Property Features for 109 N Cayuga St

General Information

Standard status: Active
Size: 9,012 SF
Property subtype: Multifamily, Office, Retail

We can help!

Contact an agent

Richard Patterson

Listing office Howard Hanna Real Estate Services

Listing date Mar 17, 2026

Source Crexi

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of Howard Hanna Real Estate Services

HighLights

Prime location in the heart of the Ithaca Commons on the downtown Historic Super Block.
Diversified revenue streams from residential and commercial uses.
Fully renovated floors throughout the entire building.
Protected by a comprehensive sprinkler system.
Main floor occupied by a long‑standing (53 years) community institution.
Well‑maintained historic asset.

Overview

This well-maintained historic asset is located in the heart of the Ithaca Commons, situated on the downtown Historic Super Block. The property is a mixed-use building with both residential and commercial revenue streams. All floors have been fully renovated, and the entire building is protected by a sprinkler system. The main floor is occupied by a long-standing community institution that has served Ithaca for 53 years. The property size is 9012 square feet.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$255.2k	$28.32
− Vacancy	−$56.1k	−$6.23
EGI	$199.1k	$22.09
− OpEx	−$49.8k	−$5.52
NOI	$149.3k	$16.57

9,012 SF · lease $28.32/SF/yr · vacancy 22.00% · expense 25.00%

Alternative Uses

Best Use

Office B

$2.13M

$1.87M – $2.49M (±1% cap)

NOI $149,304 @ 7.0% cap · market cap 7.92%

Second Best

Retail

$1.64M

$1.43M – $1.91M (±1% cap)

NOI $114,584 @ 7.0% cap · market cap 6.08%

Theoretical Best

Office A

$2.81M

$2.46M – $3.28M (±1% cap)

NOI $196,850 @ 7.0% cap · market cap 10.44%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Ithaca Times Publishing House Mane and Wigs (Bike/Boat/Book/etc) Store New Ski Inc Publishing House

Suggested Use

Location Insight

Map
Local Demand

City: Ithaca
County: Tompkins
State: New York
Longitude: -76.4988131
Latitude: 42.4400005

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For sale
Mixed-use properties
NY
Ithaca
14850
109 N Cayuga St

What type of property is this?

Mixed-use property - Well-maintained, renovated mixed-use property in the heart of Ithaca Commons.

Where is this mixed-use property located?

The property is located at 109 N Cayuga St Ithaca, NY.

What is the asking price?

The asking price for this property is $1,885,000.

What are key features of this property?

This property features: Prime location in the heart of the Ithaca Commons on the downtown Historic Super Block.; Diversified revenue streams from residential and commercial uses.; **Fully renovated floors** throughout the entire building.